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20121201
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at the start of the trading day is a daily ritual at the new york stock exchange, despite the enthusiasm, traders are keeping an anxious eye on share prices. the fiscal cliff is on everyone's mind. u.s. treasury secretary timothy geithner has warned that his department will need to take extraordinary measures to postpone the upcoming government defaults. he plans adjustments to the national budget that would give the u.s. two months of grace. president barack obama has said he is still hopeful that a resolution can be reached this year. he cut short his vacation in hawaii to restart negotiations with republicans in congress. before christmas, the president called for bipartisan cooperation. >> now is not the time for more self-inflicted wounds, certainly not those coming from washington. >> analysts say failure to reach a deal with poison u.s. consumer spending. the fiscal cliff would trigger tax increases and government spending cuts in january, leaving far less money in the economy. the international monetary fund warrants of knock on effects for the global economy. -- warns of knock o
in germany or in new york but on the ground in direct talks between the two sides. >> thanks very much for joining us. >> berlin says it is authorizing the deployment of 400 troops to help station patriot missiles on turkey's border with syria. the move is a sign of solidarity with turkey, also a nato member. >> dutch and american soldiers will also be engaged in the mission. the german parliament still needs to ratify the plan, which is initially limited to one year. >> nato missiles are being deployed at turkey's request. the joint statement by the german defense and foreign ministries described turkey as the nato member most at risk from the civil war in neighboring syria. the conflict has sporadically spilled over onto turkish territory, and there are fears syria could also fire rockets. germany says troops are only being deployed to protect turkey. >> our support for turkey is clearly defensive in nature and is aimed at military deterrents -- deterrence. both turkey opposes support and our agreement to provide it made clear that this mission has nothing to do with instituting or m
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